Fortrea (NASDAQ:FTRE) Hits New 52-Week Low at $24.69

Fortrea Holdings Inc. (NASDAQ:FTREGet Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $24.69 and last traded at $25.10, with a volume of 26300 shares. The stock had previously closed at $25.20.

Analyst Upgrades and Downgrades

A number of research firms have commented on FTRE. TD Cowen began coverage on shares of Fortrea in a research note on Wednesday. They set a “hold” rating and a $27.00 target price on the stock. Robert W. Baird upgraded shares of Fortrea from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $45.00 to $36.00 in a research note on Tuesday, May 14th. Mizuho started coverage on shares of Fortrea in a research note on Tuesday. They set a “neutral” rating and a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Fortrea from $36.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, May 23rd. Finally, Baird R W upgraded shares of Fortrea from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.78.

View Our Latest Analysis on Fortrea

Fortrea Price Performance

The firm’s 50-day moving average is $35.19 and its two-hundred day moving average is $34.07. The company has a market cap of $2.25 billion and a P/E ratio of -18.13. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.47 and a quick ratio of 1.62.

Fortrea (NASDAQ:FTREGet Free Report) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.04) earnings per share for the quarter. Fortrea had a positive return on equity of 4.76% and a negative net margin of 4.11%. The business had revenue of $662.10 million during the quarter, compared to the consensus estimate of $754.58 million. The business’s revenue was down 4.6% compared to the same quarter last year. Analysts anticipate that Fortrea Holdings Inc. will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On Fortrea

Large investors have recently bought and sold shares of the business. Whittier Trust Co. bought a new stake in Fortrea in the fourth quarter worth $25,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Fortrea during the fourth quarter worth $25,000. ZRC Wealth Management LLC purchased a new position in Fortrea during the fourth quarter worth $27,000. Glassman Wealth Services purchased a new position in Fortrea during the fourth quarter worth $28,000. Finally, Allworth Financial LP purchased a new position in Fortrea during the fourth quarter worth $28,000.

Fortrea Company Profile

(Get Free Report)

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.

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